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Cryptocurrency News Articles
PEPE and BONK Coin Surge 10% Despite Market Downturns, Transak Listing May Trigger Rally
Sep 27, 2024 at 06:00 am
Popular meme-based tokens PEPE and BONK coin have surged nearly 10% in the past week. With a market cap exceeding $1B, their popularity has kept them resilient.
Popular meme-based tokens PEPE and BONK coin have seen a surge of nearly 10% in the past week. Despite the market downturns, these tokens have maintained their resilience due to their popularity, which is now further bolstered by their recent listing on Transak, a leading Web3 payment platform.
With Transak aiming to simplify and secure onboarding into Web3, both PEPE and BONK coin are set to become more accessible to both new and experienced crypto users.
According to AMBCrypto’s analysis, PEPE-holding addresses have seen a significant uptick, rising from 240K in mid-July to 275K at press time. This growing confidence among stakeholders has contributed to a bullish outlook, especially considering BONK coin’s 5% rise to $0.00001996 in the last 24 hours.
However, despite this uptick, BONK coin’s transactional volume has not seen a substantial jump. While the total transaction count has crossed 1 million, the daily volume remains below average.
Considering that Transak aims to onboard users into DeFi, tokens like PEPE and BONK coin provide an approachable entry point for beginners into the space.
In light of this, AMBCrypto also examined the impact of the listing on staking activity within the DeFi ecosystem.
Being a part of the Solana blockchain, which ranks third in Total Value Locked (TVL) at $5.3 billion, Bonk coin’s staking volume reached $43 million. This reflects a growing interest in utilizing BONK within the DeFi ecosystem.
As mentioned earlier, BONK’s volume has sharply declined from nearly half a billion post-listing to $188 million at press time.
Despite this, the bulls have managed to stave off a pullback, pushing BONK coin closer to its previous rejection level at $0.00002201. In contrast, PEPE has shown a higher growth rate, demonstrating greater resilience against volatility, also closing in on its previous resistance at $0.00000950.
Overall, both PEPE and BONK coin are gaining traction among stakeholders, reflecting optimism about their future price action.
While the listing is certainly a factor, much also depends on Bitcoin action, especially in the long run – sustained optimism in the network could see both tokens easily surpass their previous rejection levels.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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